Triangle Energy updates Indonesian operation
Friday, October 28 2011 - 09:56 AM WIB
Pase production
Production during the September quarter was from three wells, A-1, A-5 and A-6. Production was disrupted during the quarter due to work-over activities. Total production was as follows:
| Month | MMcf |
| July | 84.23 |
| August | 55.04 |
| September | 85.69 |
| Total | 224.96 |
Pase development activities
The Company 2011 work-over program was a key focus during the September quarter. The A-1 and A-2 wells were both subject to rig activities.
A-1 was worked over to remove a blockage inside the existing 7? production string, opening additional lower formation. The well shows signs of formation damage caused by the work-over and the Company is now preparing to acid stimulate the well which it expects will increase production from pre-work-over production levels.
A-2 was drilled by Mobil In 1984 but never produced. Well testing carried out by Mobil resulted in flow rates in excess of 20 MMcfd from two separate reservoirs. This well has been worked over to drill out temporary cement plugs and a new 13% chrome production completion string has been installed together with new surface facilities. Triangle Energy has completed initial swabbing of the well and confirmed the presence of gas. The company looks forward to gas production from this well following re-perforation of the well and an acid wash to be carried out in quarter 4 2011.
Pase operational activities
Significant ant operational effort during the quarter was on the 2012 work program and budget (WP&B) which was lodged with BPMIGAS, the Indonesian upstream oil & gas regulator during September. Presentation of the WP&B will be made during quarter 4 2011.
During the quarter the Company presented to the Aceh parliament in regards to the Pase PSC, its benefits for the Aceh province and the Company planned work program following renewal of its Pase PSC. This presentation was well received.
Exploration activities
During the quarter the Company technical team continued on its evaluation of all Pase wells for missed pay and remaining gas potential using PLT, borehole and fracture study data to understand the distribution of water and gas in the wells and development of potential exploitation programs. The team also continued its re-processing of seismic data for infill and near field well locations.
About Triangle Energy:
Triangle Energy is a gas production and exploration company based in Perth. Its wholly owned subsidiary, Triangle Pase Inc. (TPI) is based in Jakarta and is the 100% holder and operator of the Pase PSC which covers an area of 922km2 in Aceh Province, North Sumatra, Indonesia.
Most of Triangle Energy?s gas is at premium LNG price. The Pase PSC has considerable exploration and development opportunities which Triangle Energy will pursue commencing in 2012. Triangle Energy is continuing to review further acquisition opportunities in the area. (end of excerpt)